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Transforming Logistics: Autonomous Last Mile Delivery Market Overview 2024
Autonomous Last Mile Delivery Market Size
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According to The Business Research Company's, The autonomous last mile delivery market size has grown exponentially in recent years. It will grow from $23.35 billion in 2023 to $30.11 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to e-commerce growth, increased traffic congestion, infrastructure investments, cost reduction imperative, urbanization trends..
The autonomous last mile delivery market size is expected to see exponential growth in the next few years. It will grow to $83.37 billion in 2028 at a compound annual growth rate (CAGR) of 29.0%. The growth in the forecast period can be attributed to rising demand for contactless deliveries, focus on safety and reliability, last-mile challenges in healthcare, data security and privacy measures, contactless and touch-free deliveries. Major trends in the forecast period include expansion of drone delivery services, autonomous vehicles for urban deliveries, focus on sustainability and electric vehicles, collaborations and partnerships, rural and remote area delivery solutions, enhanced security features,technological innovations in navigation..
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Market Drivers and Trends:
The growth of the e-commerce industry is expected to propel the growth of the autonomous last-mile delivery market. The e-commerce industry refers to the buying and selling of products and services online that focuses on same-day delivery and on-time delivery to provide a better customer experience. Various factors like workforce shortage, pandemic outbreaks, and supply chain disruptions are leading customers to shop online through e-commerce platforms. E-commerce companies are using drones and autonomous vehicles for the last stage of delivery of the courier and parcel to end-users at their doorsteps without human intervention. For instance, according to India Brand Equity Foundation, an India-based government export promotion agency, the e-commerce sector in India is estimated to reach $111.4 billion by 2025. Therefore, the rising e-commerce industry is driving the autonomous last-mile delivery market growth.
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
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Major Key Players of the Market:
Amazon com Inc.,DHL Group,Geopost,Drone Delivery Canada Corp.,Flirtey Inc.,Flytrex Inc., JD com Inc.,Caterpillar Inc,Matternet Inc.,Relay Robotics, Starship Technologies Inc.,MercuryGate International Inc., Dronescan Ltd.,Edron Business Systems, Nuro Inc.,Unsupervised com Inc., Kiwi Campus Inc., Eliport Inc.,Skycart Inc., Refraction AI Inc., Robby Technologies Inc., Udelv Inc.,Kiwi Campus Inc.,Starship Technologies,Carrypicker GmbH,B-ON GmbH,Blue Dart Express Ltd.,Workhorse Group Inc.,Aeva Technologies Pvt Ltd.,Baidu Inc.
Autonomous Last Mile Delivery Market 2024 Key Insights:
• The autonomous last mile delivery market size is expected to see exponential growth in the next few years. It will grow to $83.37 billion in 2028 at a compound annual growth rate (CAGR) of 29.0%.
• E-Commerce Boom Fuels Growth In The Autonomous Last-Mile Delivery Market
• Technological Advancements Enhance Autonomous Last-Mile Delivery Market Presence
• North America was the largest region in the autonomous last-mile delivery market in 2023
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